SPURIOUS CORRELLATION AND IT'S DETECTION

Some practitioners or "fitologists" would consider adding a term to the model to deal with the "apparent" curvature. To do so cures the cold but kills the patient.

Thanks to computers, Bill Gates and other software developers we can now buy programs that search for the "best model" .

The best model is found to be a Weibull named after a Swedish mathematician and has been found useful in reliability models.

It is interesting , at least to this writer that the policy implications implied by further price increases (X) are that demand is inelastic or unaffected.

These efforts are all in vain as they attempt to "torture the data until the true model confesses" . Detecting the presence of the three regimes leads to a simple straightforward answer which becomes visually obvious once it is pointed out !

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